Automotive Wheel Rims Market Research Report Information By Material (Steel, Alloy, and Carbon Fiber), By Rim Size (13”-15”, 16”-18”, 19”-21” and Above 21”), By Vehicle Type (Passenger Cars and Commercial Vehicles), By End-Use (OEM and Aftermarket) and Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2030
ID: MRFR/AM/8623-HCR | 110 Pages | Author: Sejal Akre | May 2023
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Automotive Wheel Rims Market
Automotive Wheel Rims Market is expected to be valued at USD 63712.1 Million with a CAGR of 5% Forecast by 2030
$63712.1 Million
5%
Asia-Pacific
2022-2030
Automotive Wheel Rims Market Scenario
Key Players
Key players in the global automotive wheel rims market are TSW Alloy Wheels (US), Euromax Wheel (US), Maxion Wheels Inc. (US), VOXX International Corporation (US), Mobile Hi-Tech Wheels Inc. (US), Sota Offroad (US), Status Wheels (TUFF A.T) (US), Fuel Offroad Wheels (US), Wheel Pros Holdings, LLC (US), and Topy Industries Limited (Japan).
The global automotive wheel rims market has been segmented by material, rim size, vehicle type, end-use, and region. Based on material, the global automotive wheel rims market can be segmented into steel, alloy, and carbon fiber. The alloy segment is anticipated to record a significant CAGR in the coming years. By rim size, the automotive wheel rims market has been split into 13”-15”, 16”-18”, 19”-21”, and above 21”. The 13”-15” segment held a sizeable share and is anticipated to record a significant CAGR in the coming years. By vehicle type, the automotive wheel rims market has been split into passenger cars and commercial vehicles. The passenger car segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years. By end-use, the automotive wheel rims market can be bifurcated into OEM and aftermarket. The OEM segment is anticipated to record a high CAGR in the coming years.
Market Segmentation
The global automotive wheel rims market is expected to witness moderate growth during the forecast period owing to the growing vehicle production and increased demand for lightweight materials. These factors are expected to drive the demand for automotive wheel rims in the coming years.
Based on region, the global automotive wheel rims market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The Asia-Pacific region is projected to dominate the automotive wheel rims market in the coming years, which can be attributed to the increasing vehicle production and presence of prominent players operating in this region. Furthermore, the disposable income levels and spending capacity are increasing in the North American and European markets.
Intended Audience
- Government and Research Organizations
- Consulting Companies in the Automotive Wheel Rims Market
- Raw Material Suppliers
- Automotive Wheel Manufacturers
- Independent and Authorized Dealers of Automotive Wheels
- Research Consultants
- Investors and Shareholders
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2030 : USD 63712.1 Million Value |
| CAGR | 5% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2020 & 2021 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material, Rim Size, Vehicle Type, End-Use |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | TSW Alloy Wheels (US), Euromax Wheel (US), Maxion Wheels Inc. (US), VOXX International Corporation (US), Mobile Hi-Tech Wheels Inc. (US), Sota Offroad (US), Status Wheels (TUFF A.T) (US), Fuel Offroad Wheels (US), Wheel Pros Holdings, LLC (US), and Topy Industries Limited (Japan) |
| Key Market Opportunities | Lack of awareness Low disposable income levels\r\n |
| Key Market Drivers | Enhanced functionality through innovations |
Frequently Asked Questions (FAQ) :
The global automotive wheel rims market is predicted to grow at a 5% CAGR between 2022- 2030.
The global automotive wheel rims market is predicted to reach USD 63712.1 Million by 2030.
Key contenders profiled in the global automotive wheel rims market include TSW Alloy Wheels (US), Euromax Wheel (US), Maxion Wheels Inc. (US), VOXX International Corporation (US), Mobile Hi-Tech Wheels Inc. (US), Sota Offroad (US), Status Wheels (TUFF A.T) (US), Fuel Offroad Wheels (US), Wheel Pros Holdings, LLC (US), and Topy Industries Limited (Japan).
Consumers changing lifestyle and increasing disposable income are driving the global automotive wheel rims market growth.
Asia Pacific will lead the automotive wheel rims market.
Key Questions Answered
- ✅ Global Market Outlook
- ✅ In-depth analysis of global and regional trends
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- ✅ To identify opportunities in the market.
- ✅ Analyze the key challenges in the market.
- ✅ Analyze the regional penetration of players, products, and services in the market.
- ✅ Comparison of major players’ financial performance.
- ✅ Evaluate strategies adopted by major players.
- ✅ Recommendations
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